Dai Yongge, Rob Couhig And The Battle To Own Reading
As Reading fans fear the worst, Blue & White Jester argues that, if anything, we should be the ones feeling dandy. Even though the end (of sorts) is nigh…
We’re all preoccupied by Dai Yongge’s divestment deadline of April 5 from the EFL right now. Will a deal be struck by then or could we be thrown out of the league altogether?
It’s hardly a wild prediction, but in my opinion getting kicked out of the EFL next week is unlikely. Neither do I think we’ll rock up to the SCL next Saturday to meet new owners - although I’d be very pleasantly surprised. Frustratingly, I believe the EFL will issue another extension on Dai’s deadline.
I think our play-off form and progress into the season also means an expulsion would create such a huge cluster-bomb of litigation for the EFL that it simply isn’t worth pursuing. Imagine the ramifications on league standings when deciding what happens with our points! When Bury lost their EFL membership, the 2019/20 season hadn’t started, and matches were provisionally postponed before they were kicked out.
The Shakers were also granted multiple extensions to secure their future. Thus, an extension is likely coming our way again. If last week’s court ruling wasn’t enough to get a deal over the line, then what can an extra week really offer?
Especially given that the club now require an agreement with Rob Couhig. The two sides trading positions so publicly suggests they’re not close there either. Reading’s exclusivity statement from February said “the structure of the deal should allow for a quick completion”. Over a month later, that statement looks a tad disingenuous given that this week they said: “All parties remain positive in the desire to complete a transaction at the earliest possible opportunity.”
It’s no coincidence the club are openly ‘calling out’ Couhig. Whether through circumstance or design (probably a mixture of the two), he’s yet again being portrayed as a blocker. But remember, it wasn’t Couhig who opted not to pay club staff in the run-up to Christmas two years ago. Nor did he run the club so incompetently to bring us to where we are now. If anything, he did the complete opposite for a fair chunk of 2024.
While all the above sounds downbeat, look at it this way: there are two parties vying to buy the club, which is clearly a good thing. Both likely are aware of the other’s position and are probably finding Dai more frustrating than their convoluted situation with negotiations.
After 500 days of apparently being ‘committed to doing a deal’. Dai realistically won’t see the season out as club owner. The EFL and now the courts have effectively cornered him, or perhaps I should say he’s cornered himself?
Couhig’s latest podcast appearance also suggests Dai has well and truly shot himself in the foot. Assuming the American’s stance as holder of the liens is correct, there’s no way Dai or Dayong Pang are folding the club. That’s a huge sigh of relief for any Reading fan, but it’s a foul-up of epic proportions on Dai’s part to have given away his joker card.
All of this is poetic justice for Dai in my opinion. He could’ve sold the club when we were in the Championship for a lot more and it was obvious he was pulling away even then! Instead, he’s filibustered and gambled for so long that he now must accept peanuts compared to what was probably offered last year.
Factoring inflation, market value and the additional asset of Bearwood, Dai’s rumoured sale price is half Sir John Madejski’s pocketed £40m for 50% of Reading back in 2012! I know things are serious, but that’s a depreciation one can only dub “the Dai effect” and I’m sorry if you can’t see the funny side of it.
I know it feels like we haven’t had the media coverage we deserve of late, but I think it’ll come in hefty spades should the Dai’s attempt any more sleight of hand. Dai Xiu Li theoretically stepping in to replace her brother as owner will likely be rejected by the EFL. Therefore, Dai’s chips are whittling down, and the cards aren’t so much against him - more he’s given them away.
It’s almost serendipitous we play Wycombe Wanderers next Saturday: they who tried to buy the training ground a year ago, who we played the day after we lost Ruben Selles, Rob Couhig’s former club, and who we could face should next week be our last game.
At the very least I hope - or rather suspect - it’ll be the last when Dai Yongge owns Reading FC.
The end is in sight folks, we just need to be there for the team now. One short, protracted yet painful jump and this could all be over. Reading FC will live on though, I’m sure of that.